Cookies on the this website
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website. However, if you would like to, you can change your cookie settings at any time.

New to PropertyWire?

Welcome, and thank you for visiting our website.

PropertyWire is the leading publication for property investors and industry professionals interested in the world of international property investment.

Our aim is to give you intelligent commentary and analysis on the world of retail and commercial real estate.
If you've enjoyed what you've read so far why not sign up for our FREE property alert and online magazine PropertyWire Confidential.

Every week the PropertyWire team sends out a hard-hitting newsletter packed with news and analysis of the top stories plus the best investment opportunities on the market. We always look at the bigger picture like the Euro Crisis, and explain how this will affect YOUR investments.

Ask me later
No thanks

Apr 26th
Lost Password? Register
Home arrow Global arrow More wealthy people putting their money into property

More wealthy people putting their money into property

Thursday, 29 November 2012
Half of the UK’s wealthiest people own more than one home and it is female millionaires who are leading the way in terms of buying overseas.

For most millionaires, owning bricks and mortar remains a top priority with 49.9% of the UK's wealthiest people owning more than one property in the UK according to Skandia's Millionaire Monitor report 2012.

Furthermore millionaires under the age of 50 are significantly more likely to invest in multiple properties with over 60% of the rich under the age of 50 owning more than one property compared to 42% if they are over the age of 50.

Also female millionaires it appears are in fact more likely that their male counterparts to own more than one property with 20% choosing to own overseas versus 16% of men.

Personal use is the driving force for second homes, perhaps a country pad, a pied-a-terre or a place by the sea to retreat to for long weekends. Having a home away from home to relax and recharge the batteries before heading back to the daily grind is clearly high on the wish list.

With second homes in mind, the Skandia report also revealed that in July 2011 the volume of UK high net worth individuals planning on leaving the UK was 7.7% compared to only 3.6% this year.

Meanwhile, there is an ever increasing number of high net worth foreign nationals relocating to the UK, especially the South East, keen to experience a far greater degree of safety and security for their family than other parts of the globe.
Barton Wyatt, an award winning high end estate agency located in Surrey has seen the number of foreign home owner increase. This year 75% of their clients are from overseas compared with 65% last year.

This figure appeared to reflect the same values for both the sales and the rental market and this increase in overseas clients poses some interesting challenges for the team at Barton Wyatt.

‘When I first started working in this area 25 years ago I would have suggested the population of foreigners living in Virginia Water was 5%. This figure has markedly increased to around 20% with droves of overseas nationals attracted here by the wonderful standard of living that the Wentworth Estate offers and often for the high standard of private education available on our doorstep,’ said James Wyatt, owner of Barton Wyatt.

Our foreign clients also look to this area due to the value for money they achieve as opposed to living in central London. The sporting venues in the locality are another driver such as first class golf, Ascot and Guards polo. The area has become well known for attracting families from overseas which in turn creates more interest,’ he added.

BOOKMARK THIS PAGE (What is this?)     Digg!Reddit!!Google!Live!Facebook!StumbleUpon!Newsvine!Furl!Yahoo!

More Recent News
Earlier News
To see all the latest news articles in our monthly online magazine, Property Wire Confidential, sign up free here

Company news

Cluttons opens new office in Spain

International real estate services company Cluttons which operates in over 50 countries has opened in Andalucía, Spain, to increase its international presence and bring its residential real estate expertise to the Costa Del Sol.

Finance Update

Leeds Building Society to accept Help to Buy remortgage applications

Leeds Building Society is the first lender in the UK to announce it will accept re-mortgage applications from Help to Buy Equity borrowers.


Student accommodation investment check List

It’s the UK’s strongest asset class, but are all student accommodation properties good investments? This is the comprehensive list of what to watch out for when buying student property.



Subscribe to our weekly newsletter and stay updated on the property market trends.
Subscribe now >>